Bitcoin Faces Headwinds As ETF Optimism Stalls; DOGE, SOL Give Back Gains
Ether (ETH) lost 0.5%, while dogecoin (DOGE) and solana (SOL) slumped as much as 5% as traders likely took profits....
- Bitcoin (BTC) prices remained stable in the past 24 hours, trading just over $37,500 with a 0.6% increase.
- Ether (ETH) lost 0.5% in value, while dogecoin (DOGE) and solana (SOL) experienced a slump of up to 5% as traders likely took profits.
- BNB Chain's (BNB) tokens saw gains of up to 8% amid reports of a potential $4 billion settlement by crypto exchange Binance for multiple U.S. criminal charges.
- Bitcoin's recent rally is facing headwinds due to uncertainty about the Federal Reserve's next steps and delays in a regulatory decision about ETFs.
- Analysts expect bitcoin to trade sideways in the coming weeks, with the $38,000 psychological level acting as resistance.
- The SEC's decision to postpone approval or disapproval of Hasdex's bitcoin ETF and the Fed's upcoming rate decision are key factors affecting bitcoin's movement.
- Analysts at Bitfinex anticipate the Fed to hold rates steady in the December meeting, citing a decline in headline inflation and the goal of sustaining economic expansion.
- Interest rate decisions can impact markets, with higher rates potentially leading to profit-taking in risk assets like stocks and cryptocurrencies.
The sentiment in the article is mostly neutral, with a focus on the current state of cryptocurrency prices and the potential impact of regulatory decisions and the Federal Reserve's actions.